ACCOUNTS - Final Accounts preparation

03 INTERIORS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-302021-05-012No description of principal activityfalse2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04638000 2021-05-01 2022-04-30 04638000 2020-05-01 2021-04-30 04638000 2022-04-30 04638000 2021-04-30 04638000 c:Director1 2021-05-01 2022-04-30 04638000 c:Director2 2021-05-01 2022-04-30 04638000 c:RegisteredOffice 2021-05-01 2022-04-30 04638000 d:PlantMachinery 2021-05-01 2022-04-30 04638000 d:PlantMachinery 2022-04-30 04638000 d:PlantMachinery 2021-04-30 04638000 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 04638000 d:ComputerEquipment 2021-05-01 2022-04-30 04638000 d:ComputerEquipment 2022-04-30 04638000 d:ComputerEquipment 2021-04-30 04638000 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 04638000 d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 04638000 d:CurrentFinancialInstruments 2022-04-30 04638000 d:CurrentFinancialInstruments 2021-04-30 04638000 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 04638000 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 04638000 d:ShareCapital 2022-04-30 04638000 d:ShareCapital 2021-04-30 04638000 d:RetainedEarningsAccumulatedLosses 2022-04-30 04638000 d:RetainedEarningsAccumulatedLosses 2021-04-30 04638000 c:FRS102 2021-05-01 2022-04-30 04638000 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 04638000 c:FullAccounts 2021-05-01 2022-04-30 04638000 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 04638000 2 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure

Company registration number: 04638000

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 APRIL 2022

	03 INTERIORS LIMITED


03 INTERIORS LIMITED

COMPANY INFORMATION

Directors	D Hurcombe
	D Gray


Registered number	04638000


Registered office	Centrum House
	36 Station Road
	Egham
	Surrey
	TW20 9LF


Trading Address	7 High Street
	Pangbourne
	Berskshire
	RG8 7AE



Accountants	Menzies LLP
	Chartered Accountants
	Centrum House
	36 Station Road
	Egham
	Surrey
	TW20 9LF


03 INTERIORS LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


03 INTERIORS LIMITED REGISTERED NUMBER:04638000

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		317		373
			317		373
Current assets
Stocks		9,503		5,950
Debtors: amounts falling due within one year	5	39,271		8,940
Cash at bank and in hand		39,063		14,282
		87,837		29,172
Creditors: amounts falling due within one year	6	(84,085)		(29,434)
Net current assets/(liabilities)			3,752		(262)
Total assets less current liabilities			4,069		111

Net assets			4,069		111

Capital and reserves
Called up share capital	2	2
Profit and loss account	4,067	109
	4,069	111

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Hurcombe

Director

Date: 25 April 2023

The notes on pages 2 to 5 form part of these financial statements.

Page 1


03 INTERIORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

1.	General information

03 Interiors Limited is a private company, limited by shares, registered in England and Wales. The company;s registered office address and principal place of business can be found on the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is generated through the provision of interior design services and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Page 2


03 INTERIORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Plant and machinery	-	15%	Reducing balance
				Computer equipment	-	15%	Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 3


03 INTERIORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

4.	Tangible fixed assets

	Plant and machinery	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 May 2021	412	2,431	2,843
At 30 April 2022	412	2,431	2,843
Depreciation
At 1 May 2021	404	2,066	2,470
Charge for the year on owned assets	1	55	56
At 30 April 2022	405	2,121	2,526
Net book value
At 30 April 2022	7	310	317
At 30 April 2021	8	365	373

Debtors

					2022	2021
					£	£


Other debtors	39,271	8,940
	39,271	8,940

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	-	9,139
Corporation tax	14,180	2,181
Other taxation and social security	17,863	9,614
Accruals and deferred income	52,042	8,500
	84,085	29,434

Page 4


03 INTERIORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

7.	Transactions with directors

Included within other debtors are the following advances and credits to directors which subsisted during the years
ended 2021 and 2022. Intrest is not being charged on this loan and is repayable on demand.

		2022	2021
		£	£

Balance at start of the year	690	(24,008)
Amount repaid	(62,098)	(27,881)
Amount advance	92,429	52,579
	31,021	690

Page 5